JP Morgan
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Enel, the Italian electricity company, has set the minimum spread for its new 10 year benchmark euro bond at 115bp over mid-swaps, which one banker described as a "very investor-friendly" level. -
HKBN, or Hong Kong Broadband Network, plans to start gauging investor appetite for its IPO of around $600m in early to mid-February, say bankers on the listing.
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Rabobank’s inaugural additional tier one marked not only the first such deal from a Dutch issuer, but the first AT1 deal of the year. Though the deal was priced into a market full of uncertainty, its sturdy reception, if less ecstatic than previous trades, suggests that investors are approaching the asset class with more sobriety than in 2014.
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Covered bond issuers from outside the Eurozone launched deals this week denominated in sterling and Australian dollars. But a bigger proportion were from the Eurozone where borrowers launched deals in the single currency in maturities that ranged from four to 20 years. The transaction were priced generously and enjoyed a solid reception, with central banks taking a back seat.
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The first full year results for the major US investment banks show that little changed in Q4 — litigation costs and poor trading revenues, particularly in fixed income, are still causing most of the pain.
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Tunisia has picked banks for a 144A/Reg S conventional dollar deal and starts investor meetings on Friday. The lead manager line-up contains some of the same banks that were attached to a debut sukuk the sovereign had intended to launch in 2014. But that transaction — although still planned — has been delayed while Tunisia tweaks its sukuk legislation, said debt bankers.
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Tele Columbus’s existing shareholders have placed orders for just under two thirds of the new shares to be sold as part of the German cable provider’s IPO.
